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Medical Device Quality: An Essential Capability and Competitive Edge for Manufacturers
by Marcus Ehrhardt, Richard Holman, Robert Hutchens, and Ian MacDonald
In our experience, there are three root causes for the rising incidence of product failures in the medical device industry: a siloed, reactive approach to quality; a lack of focus on continuous improvement; and the ever-increasing complexity of medical devices. To address them, manufacturers should consider developing quality management as an organizational capability. The principal components of such a capability are critical-to-quality (CTQ) management, systems engineering, and design for Six Sigma (DFSS). Companies that successfully weave these three elements into an integrated, preventive quality capability can achieve a competitive advantage and a leadership position in their industry.
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Charting a Clear Course in Rough Seas: A New View on Hospital and Health Systems Strategy
by Gary Ahlquist, Sanjay B. Saxena, Igor Belokrinitsky, and Akshay Kapur
Many hospitals and healthcare systems are not prepared for the way their function and forms will change in the next few years. They appear to be stuck, as if waiting for competitors, regulators, and payors to tell them how to define themselves. With a capabilities-driven strategy that broadens their thinking about form and function, hospitals and health systems can untether themselves from the past, unlock new opportunities, and remain viable and vital during these tumultuous times.
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Winning in the Medicaid and “Duals” Markets: Navigating Uncertainty and Planning for Successful Growth
by Sanjay B. Saxena, Sundar Subramanian, and Jennifer Yaggy
Despite the Supreme Court’s recent decision to allow individual states to opt out of the Medicaid expansion provision of the Affordable Care Act, Medicaid rolls will soon expand by millions of people. Indeed, this decision is just one element of the changing Medicaid landscape. Many states will continue to shift their current Medicaid and “Duals” populations—those who qualify for both Medicare and Medicaid—to managed care organizations (MCOs), creating enormous opportunities and challenges. For MCOs that decide to take the plunge, we propose a multistep approach.download (509kb, PDF) > |
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The Emergence of Private Health Insurance Exchanges: Fueling the “Consumerization” of Employer-Sponsored Health Insurance
by Akshay Kapur, Ashish Kaura, Minoo Javanmardian, and Paolo Borromeo
Health insurance in the U.S. is at the cusp of a major transition from an employer-driven payor model to a model directly involving many more employees and consumers. Private health insurance exchanges with a defined contribution approach represent a significant step toward catalyzing this change. In this paper—part of an ongoing series of Booz & Company Perspectives on the shift to consumerism in health insurance — we consider the impact of this change on the payor industry and the strategic approach that leading companies need to take.download (568kb, PDF) > |
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From Hidden Gems to Crown Jewels: Opportunities for Strategic Diversification for U.S. Health Plans
by Minoo Javanmardian, Ashish Kaura, Igor Belokrinitsky, and Jarett Weinpel
As health plans find themselves under increased financial and political pressure, many are questioning the long-term viability of their current business models. As a result, some plans have chosen to place “side bets,” or diversify, and more will likely follow. Business model diversification, in particular, has a strong capability focus — either leveraging some of the health plan’s existing capabilities or requiring it to build new ones. Of the possible strategic objectives for pursuing diversification, it is the most transformative and disruptive. But it is also the best suited to times of radical uncertainty, such as today, when the industry is rapidly evolving.download (249kb, PDF) > |
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Reclaiming Lost Medical Value: Three Models for Healthcare Change
by Gary D. Ahlquist, Sanjay B. Saxena, Brett Spencer, Abhishek Gopalka
Rising costs are forcing the entire U.S. healthcare industry to find ways to unlock and enhance medical value by delivering higher-quality, more affordable care to empowered and engaged consumers. To create meaningful change, the system needs to adopt approaches that are holistic and highly collaborative, bringing together the distinct capabilities of payors, hospitals, and physicians. This Perspective outlines three models — population care, healthcare products, and focused transformation — that address the issue of reclaiming lost medical value in a comprehensive and sustainable way.download (220kb, PDF) > |
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Accountable Care Organizations: The New Player in the Health-Reform Landscape
by Gary D. Ahlquist, Sanjay B. Saxena, Brett L. Spencer
To assist health plans as they consider and pursue Accountable Care Organizations (ACOs), Booz & Company conducted extensive research, modeling, and in-depth market interviews. This Perspective reports Booz & Company’s findings on the emerging ACO landscape, including an assessment of the fast-evolving ACO marketplace and an analysis of the impact of ACOs on payors and providers — as well as competitive implications and capability recommendations for payors.download (469kb, PDF) > |
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